Clariden Leu Ltd. Integrates AIR's Modeling Software to Manage Catastrophe Bond Risk.BOSTON -- AIR Worldwide Corporation (AIR) today announced that Clariden Leu Leu leucine. Leu abbr. leucine Leu leucine. Ltd., a member of the Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Group, has licensed CATRADER[R], the industry standard application for analyzing catastrophe reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and insurance-linked securities, to assess and manage the risks associated with its portfolio of catastrophe bond catastrophe bond A debt security with a payoff tied to the relative severity of a natural disaster such as a hurricane or earthquake. Bondholders are paid with insurance premiums but may have to accept reduced principal repayment in the event the specified investments. In conjunction with CATRADER, Clariden Leu Ltd. will also be using AIR's ALERT[TM], a value-added service A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. that provides reliable catastrophe loss information in real time. Clariden Leu Ltd. currently manages a number of insurance-linked security investment products, covering a wide spectrum of insurance risks, totaling more than 700 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . "We selected AIR because they offer a wide range of scientifically-based models," said Hilary Paul, at Clariden Leu Ltd. "We use AIR's CATRADER for evaluating catastrophe bonds with a range of trigger types, including indemnity, index and notional portfolio-based triggers. This will help us to assess the default probability and potential return on specific catastrophe-related instruments. In addition, the tool permits us to examine the correlation between investments, improve diversification and better manage our overall portfolio risk." The property catastrophe bond market has developed considerably over the past ten years. Issuances have grown from more than $1 billion in 2002 to nearly $5 billion in 2006. This year issuances have already reached $6 billion, representing a 26% growth over 2006, with two months still remaining. As the catastrophe bond industry has grown, so has the need for sophisticated analysis tools. "CATRADER's versatility and reliability makes it the system of choice for hedge funds and other financial institutions to evaluate the risk associated with catastrophe-related financial instruments," said Yorn Tatge, Managing Director of AIR Worldwide, GmbH in Munich, Germany. "Sophisticated investors such as Clariden Leu Ltd. are using CATRADER to help them make better investment decisions and establish a competitive advantage." AIR is the leading provider of catastrophe risk modeling and analytical services for insurance-linked securities. Since modeling the first large-scale catastrophe bond in 1997, AIR has participated in many of the insurance industry's landmark securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. transactions. This year AIR has provided modeling support for more than 3 billion dollars in insurance-linked securities. About AIR Worldwide Corporation AIR Worldwide Corporation (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 50 countries. More than 400 insurance, reinsurance, financial, corporate and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities, site-specific seismic engineering analysis, and property replacement cost valuation. AIR is a member of the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. family of companies and is headquartered in Boston with additional offices in North America, Europe and Asia. For more information, please visit www.air-worldwide.com. About Clariden Leu Clariden Leu Ltd. formed following the merger of Credit Suisse's four private banks - Clariden, Bank Leu, Bank Hofmann, and BGP (Border Gateway Protocol) The routing protocol that is used to span autonomous systems on the Internet. It is a robust, sophisticated and scalable protocol that was developed by the Internet Engineering Task Force (IETF). Banca di Gestione Patrimoniale - as well as the securities dealer Credit Suisse Fides, on January 26, 2007. It is a leading private bank offering a comprehensive and high-quality range of products and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal in private banking. Clariden Leu Ltd. serves wealthy clients with demanding wealth management and product requirements, external asset managers, and wholesale clients from over 20 offices worldwide. With assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 133 billion (as at June 30, 2007), Clariden Leu Ltd. is one of Switzerland's leading asset managers. www.claridenleu.com Disclaimer This publication does not constitute an offer or invitation on behalf of Clariden Leu Ltd. to any person to purchase or sell any investments or to participate in any particular trading strategy in any jurisdiction. It has been prepared without taking account of the objectives, financial situation or needs of any particular investor. Nothing in this publication constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to individual circumstances, or otherwise constitutes a personal recommendation to any specific investor. Any reference to past performance is not necessarily a guide to the future. |
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